US Stocks to ‘Run Out of Steam’: Strategist

U.S. stock index futures predicted the slightly higher open on Monday, but Manus Cranny of MF Global Spreads said that sustainability is now the critical question.

US Futures Gain, Doubts Remain

US stock index futures pointed to a slightly higher open Monday. Manus Cranny from MF Global Spreads told CNBC that sustainability is the critical question now. He thinks the market will turn lower by the end of the week.

“I am very surprised by this market,” Cranny told CNBC. “I personally think this market goes lower for the week and we will run out of steam.”

In terms of this week’s economic data, Cranny said he sees little momentum to the upside, but “enough to sustain [the markets] at an unchanged level.”